PhRMA’s Perspective on United States Public Policies and the Future of Personalized Medicine

On November 14, PhRMA Chief Medical Officer Michael Ybarra, M.D., will discuss how the pharmaceutical industry’s leading trade association views the prospects for personalized medicine and innovative drug development in the context of a changing public policy environment.

Dr. Ybarra will deliver his remarks at a pivotal moment in the history of drug development and personalized medicine.

For two decades, PMC, a nonprofit organization that convenes more than 220 institutional members from all sectors of the health care ecosystem to advocate for the development and adoption of personalized medicine, has tracked the growing number of personalized medicines coming to the market. The Coalition’s latest research shows that personalized medicines topped one third of new U.S. Food and Drug Administration drug approvals for the fourth year in a row in 2023, bringing new hope to patients with certain types of cancers, rare genetic diseases, and some common and infectious diseases.

But economic and political landscapes are shifting, raising unanswered questions about how future market dynamics may shape the development of personalized medicines. Two-thirds of Americans say they prefer personalized medicines over one-size-fits-all therapies, but patients have also expressed concerns about escalating drug costs.

During his address, Dr. Ybarra will share the pharmaceutical industry’s point-of-view on the status and future of personalized medicine considering recent public policy changes in the United States.